GoPro (NASDAQ:GPRO) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of GoPro (NASDAQ:GPRO) from a strong sell rating to a hold rating in a research note published on Monday,Zacks reports.

Several other brokerages also recently weighed in on GPRO. Wall Street Zen upgraded GoPro from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 23rd. Weiss Ratings raised shares of GoPro from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, GoPro presently has a consensus rating of “Reduce”.

GoPro Stock Down 0.8%

GPRO stock opened at $1.18 on Monday. The company has a market capitalization of $217.71 million, a price-to-earnings ratio of -1.19 and a beta of 2.43. GoPro has a 12 month low of $0.57 and a 12 month high of $2.73. The firm has a 50 day moving average of $1.08 and a two-hundred day moving average of $0.98.

GoPro (NASDAQ:GPRO) last posted its earnings results on Monday, August 10th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.23). GoPro had a negative net margin of 28.52% and a negative return on equity of 411.41%. The company had revenue of $104.93 million for the quarter, compared to the consensus estimate of $151.47 million. On average, research analysts expect that GoPro will post -0.81 EPS for the current fiscal year.

Institutional Trading of GoPro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp increased its stake in shares of GoPro by 59.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 265,800 shares of the company’s stock worth $205,000 after purchasing an additional 99,100 shares during the last quarter. Renaissance Technologies LLC lifted its stake in GoPro by 137.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,625,900 shares of the company’s stock valued at $1,252,000 after purchasing an additional 940,300 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in GoPro by 10.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 149,341 shares of the company’s stock valued at $115,000 after purchasing an additional 14,324 shares during the last quarter. R Squared Ltd lifted its stake in GoPro by 49.4% in the 1st quarter. R Squared Ltd now owns 97,067 shares of the company’s stock valued at $75,000 after purchasing an additional 32,113 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in GoPro by 27.4% during the first quarter. Assenagon Asset Management S.A. now owns 162,535 shares of the company’s stock worth $125,000 after purchasing an additional 34,961 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

About GoPro

GoPro, Inc develops and sells compact cameras and related products designed to capture immersive photos and video during travel, sports, outdoor recreation and everyday activities. Its product portfolio includes HERO action cameras, MAX 360-degree cameras, camera accessories, mounts and other equipment used by consumers, creators and professionals.

The company also provides software and digital services that support content capture, editing, storage and sharing. Its Quik mobile and desktop applications are designed to help users organize and edit footage, while GoPro subscription offerings provide features such as cloud storage, automatic uploads, editing tools, camera replacement benefits and discounts on products and accessories.

Founded in 2002 by Nicholas Woodman, GoPro grew from a wrist-mounted camera concept into a global action-camera brand.